Shared Ownership

What is a shared ownership re-sale?

Shared ownership properties become available through re-sales where a current shared ownership property is going to become available for sale. You purchase a share of a property – 25%, 50% or 75% which you will pay mortgage payments towards and the Association will own the remaining share, which you then pay an occupancy charge on.

Who can apply for shared ownership housing?

Anyone, provided that they are a qualifying applicant and either live in Lochaber, or have a reason to move to Lochaber and who have sufficient income to afford a shared ownership property. To qualify for shared ownership, you should generally be in one of the following groups and 18 or over:

  • First-time buyers, who would not otherwise be able to afford outright purchase of a property
  • Owner-occupiers who have had a change in circumstances which means they can no longer afford to sustain, or move back to, full owner occupation
  • Existing local authority, or housing association, or other public sector tenants
  • Applicants on the Highland Housing Register with un-met housing needs
  • Older people unable to purchase a property outright on the open market
  • Serving members of the armed forces, or veterans who have left the armed forces within the last two years – or widows, widowers, or other partners of service personnel killed in action during the last two years
  • People with special needs who are unable to purchase a property outright that is suitable for their needs. The property size must be appropriately apportioned to the applicants household in line with the Associations Shared Ownership Policy. Should the Association receive interest from more than one interested party, the Association must assess all eligible applicants in line with the Shared Ownership Policy.